After major consolidation at around $400 levels for the last week, Binance Coin (BNB) is showing strong price action gaining 15% today. As of press time, BNB is trading 14.57% up at a price of $465 and a market cap of $78 billion. With its recent price rally, BNB has once again flipped Cardano (ADA) to becoming the third-largest crypto by market cap.
While the BNB price has been under strong consolidation, the whales continued their accumulation over the last two weeks. But on-chain data provider Santiment refers to this as a technical breakout. It reports:
Binance Coin (BNB) is on a temporary breakout and the accumulation from its millionaire holders appears to be paying dividends. Holders with 10k to 100k $BNB have accumulated 412k $BNB in the past two weeks, adding 8.7% more coins to their total holdings.
After a muted response for some time, Binance Coin’s recent surge bring hope for investors. However, this price surge also comes on the backdrop of strong development in Binance
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